How important intrinsic and extrinsic product attributes affect purchase decision

We simultaneously evaluated intrinsic and extrinsic product attributes by means of a choice-based conjoint experiment. A sample of 621 consumers tasted three soft drinks and chose the product most preferred. Test products were systematically varied across choice sets with respect to sweetening system, calorie reduction label, price and brand. Choice data and data on consumption patterns, attitudes and socio-demographics were analysed by a conditional logit model. This approach enabled us to model product choice as a function of one intrinsic and three extrinsic attributes and of consumer characteristics. The latter permits market segmentation of preference data. The main results showed that consumers’ preferences of sweetening systems are heavily dependent on brand information. Simulations of market shares based on the total sample reveal the preference of sugar over sweetening systems. However, in some specific consumer segments, sugar is not significantly superior to sweetening systems—indicating how useful market segmentation can be in sensory analysis.